Diving Into Online Paid Advertising? Here Are 6 Questions You Should Be Asking Yourself
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Online Advertising’s technology, trends, and strategies will cease to stagnate, given its ever-changing and dynamic nature. Other contributing factors, such as world-changing events like pandemics, natural disasters, or politics, also play a role in the need for businesses to adopt and adapt to online advertising. Getting started with the program is essential to stay on top of your game in the never-ending competitive world of paid advertisement.
As a business owner, you must believe that investment is vital to establish growth and achieve goals and consistency. According to a report from Statista, worldwide digital advertising is estimated to reach $517 billion by the end of 2023. That’s an 82.69% increase since 2018 and counting.
1. What Does Online Paid Advertising Mean for Your Business?
Online paid advertising is a digital marketing effort that guides traffic to your website and creates potential leads to convert into sales. Audiences performing an online search are always seeking something in particular. They often click on the first result they see because it is most likely to fulfill their needs.
Paid Ads come at a cost in exchange for digital real estate granted to the highest bidders. They can be displayed almost anywhere, including but not limited to search engine result pages (SERPs), websites, email inboxes, social media feeds, and more.
2. How Can Paid Digital Marketing Be Optimized for Your Business?
Easily! Review the following categories to see how they would best benefit your business services or products and engage your audiences.
Categories that fall within paid advertising are:
The most popular and dependable type of ad will show at the top or bottom of a search engine´s result page (SERP) in the form of text. You can budget search ads to either PPC (pay-per-click) or CPM (cost-per-impressions) by paying a flat rate per 1,000 impressions.
Ads showcased on third-party websites that can be clickable static images, text, banners, wallpaper, pop-ups, flash, or video ads. These are used frequently for remarketing to re-engage with previous audiences and create brand awareness.
Platforms: Google Ads & Microsoft Ads
Users can see your products and prices at the top or side of a SERP. You must have an ecommerce website to run shopping ads.
These appear in social media feeds. Social ads can be a banner, image, or auto-play video.
Platforms: Facebook, Instagram, Twitter & LinkedIn
Local Service Ads
Platforms: Google Ads
These are 11-20 second video clips, ideal for branding and visual audiences. Video ads can show across many platforms.
Platforms: Google Ads, YouTube, Facebook, Twitter, Vimeo, AOL
Build customer loyalty and boosts sales. These ads can be sent via your email database or displayed within the email platform without an email list, such as Gmail sponsored promotions.
Platforms: Gmail, Outlook, MailChimp, Pardot
These categories allow you to customize further how you want to market through paid advertising by anticipating your potential customers’ wants, needs, and desires and achieving a better reach to specific audiences. Many of these platforms require substantial time and knowledge to create paid advertising campaigns, which most business owners cannot do. This is where paid advertising companies, such as ours, can step in and manage everything for you.
3. Search Engine Optimization (Seo) Is Free, So Why Do Paid Ads?
Of course, this should come to mind. You’re appearing and ranking decently through organic search results, so why is an investment in digital paid ads needed?
The fact is that paid search advertising allows you to capture audiences’ attention in a more targeted and effective way than organic search alone.
Here are some other key reasons:
- PPC visitors are 50% more likely to convert than organic traffic.
- On average, you can make $8 for every $1 you spend on Google Ads.
- You appear first in the search engine results pages (SERPs) above the organic results.
- Paid advertising protects you from the competition who may be advertising on your branded terms.
4. How Do You Make Sure You are Getting the Most Out of Your Paid Ads?
It’s no secret that online paid advertising can become expensive quickly if you aren’t careful. ROI can still achieve exponential growth if you manage them with knowledge on paid advertising and your business perspective.
Here are some helpful tips to make your strategy worthwhile:
- Targeting a wide array of lower-traffic terms than targeting a narrow group of higher-traffic terms will further stretch your marketing dollar and yield better results.
- Google Ads will deliver a better ROI the longer you use the platform and the better the quality scores you maintain.
- Acquaint yourself with options for tracking conversions. Any leads that come your way through paid advertising efforts are essential to keep an eye on so that you know where your dollar is being best invested.
5. How Does Paid Advertising Work With My Budget?
In paid advertising PPC, there are several ways to look at how you pay for the advertising. These include:
- CPC (cost-per-click)- This is the cost for user interaction with an ad, sending a user to your website. CPC is determined by the competitiveness of a keyword, quality score, and bidding strategy. It is designed for the Search Network and provides you with automatic and manual bidding options.
- PPC (pay-per-click) is when you pay for an ad only when it is clicked on. You have the option to set a budget towards a fixed volume of desired clicks setting a limit on the CPC, also known as Max CPC.
- CPM (cost-per-impression) – CPM is the best option if you try to increase or improve your brand visibility. It is a standard option for targeting the Display Network.
- CPA (cost-per-action) – CPA is the cost per conversion. This not only involves the user landing on your website but targeted actions such as subscribing, purchasing, filling out a form, and others.
- CPV (cost-per-view) – The cost per ad display to the user is the CPV. For example, this could describe TrueView videos in Google Display Network. It is also used in campaigns aimed at brand awareness.
6. Just How Granular Can You Get with Targeting Your Paid Ads?
Instead of just showing your ads to audiences who are probably not even interested in your services or products, why not save a little to invest in audiences that are worth your money and time?
Targeting methods determine where your ads can show and who can see them, being very specific, allowing you to reach relevant audiences.
Here are the different types of targeting methods:
- Demographics: These include locations, ages, genders, and device types.
- In-market: This targets users who are looking to make a purchase or have previously made a purchase
- Custom intent: “Custom intent audiences” allow you to add URLs for websites, apps, or YouTube content related to your audience’s interests.
- Similar audiences: This is for users with interests related to the users in remarketing lists.
- Remarketing: This targets users who have already visited your website, requested a form, or purchased from you.
- Topics: You can target one ad to multiple pages about specific topics.
- Placement: You can target websites on the display network that your customers visit.
- Content keywords: Choose words relevant to your product or service to target users searching with those same terms.
- Display expansion for search: Let Google Ads find users for you with a combination of automated bidding and smart targeting.
Boost Your Online Paid Advertising Efforts
Get started on your paid advertising campaigns! Our team at White Shark Media is ready to help you. Contact us online to begin mapping out a strategy and start generating valuable traffic to your website. Find out about our pay-per-click (PPC) management services at firstname.lastname@example.org.